• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Beware the Confirmation Trap When Analyzing Data

06/12/2016
Reading Time: 1 min read
Data Analysis

Data Analysis

405
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

Data analysis can help us sort through complexity and make decisions, but even with the best analytics tools, we’re still vulnerable to human mistakes. For instance, we’re likely to pay more attention to findings that align with our beliefs and to ignore other facts and patterns in the data. This is called the confirmation trap. You can avoid it by trying to embrace information that counters your (or your boss’s) beliefs by doing the following:

data-analysis

Specify in advance the data and analytical approaches on which you’ll base your decision. This will reduce the temptation to cherry-pick findings that agree with your prejudices.
Actively look for findings that disprove your beliefs. Ask yourself, “If my expectations are wrong, what pattern would I likely see in the data?” Enlist a skeptic to help you.
Treat your findings like predictions, and test them. If you uncover a correlation from which you think your organization can profit, use an experiment to validate that correlation.

Credit: HBR

Previous Post

Stabilisation of Ghana’s microfinance industry

Next Post

How to Help Fix a Toxic Work Culture

Related Posts

Rules for a Successful corporate career, ghanatalksbusiness.com

Five Rules for a Successful Corporate Career

04/02/2022
Op studios

Giving back to society: Op Studios reaches out to Rising Star Orphanage, Dodowa

21/03/2020
strategies for data management

BIG DATA ANALYTICS – the next big thing that’s already here

20/01/2020
talk_tax

Ghana to pay more on communication through increased talk tax

30/07/2019
Networking for business

How to get the most value from Networking Events

12/06/2019
Dishonest Customers

8 Rules for Good Customer Service

05/11/2018
Next Post

How to Help Fix a Toxic Work Culture

Close-up of assorted Canadian paper currency

Understanding the time value of money

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In